PASSING DATA TO THE BUREAU
In compliance with the legislation in force, credit organisations are obliged to pass borrowers’ credit histories for storage to one of credit bureaus. Passing data for storage, credit organisations join the process of data sharing with other market players. Data in the Bureau database are stored for 15 years after their last modification or the last request on them.
Information on update of a borrower’s credit history has to be passed to the CB within 5 days after its modification. All events can be regarded as modifications: both positive (regular instalments to repay the loan) and negative (occurrence of delinquency).
Being the technology market leader, we ensure long-term, quality and safe data storage, and provide ample opportunities for their further efficient use for the purpose of risk management and credit portfolio management.
One of the Bureau’s competitive advantages is particular focus on data quality. The process of ensuring data quality for new clients – sources of credit histories – consists of several steps:
- Transfer of test transportation file;
- Checking file correctness on the Bureau side and error correction;
- Uploading the file in the test system;
- The client making test requests on own data;
- Putting the source into the semi-automated mode of the operating system;
- Switching the automated mode of transportation file processing on the basis of test results.
The quality assurance process in the operating mode has two levels:
- Check of the transportation file on the source side with the help of special Loader Light software provided by the Bureau;
- Check of the transportation file by the Bureau operator using an extended set of checks.
The Loader comprises filters and cross checks, realizing verification of compliance of transportation files with current specification of the Bureau data format in terms of structure, consistency, field types and length, logic of their filling, checks correctness of codes for encoded fields, and also verifies authentication numbers on the basis of masques, rules and control totals.
To notify sources of successful file upload or error, special email reports are used.
The support department on a regular basis holds the following activities to improve data quality:
- Makes checks when passing title parts of credit histories to the Central Catalogue of Credit Histories (CCCI);
- Promptly responds to users’ and subjects’ messages on data quality, if necessary, notifies data sources and tracks corrections;
- Monitors regularity of updates, timely response to notification of incorrect data;
- At regular intervals, performs random checks of data from sources serviced in the automated mode.